{"id":21320,"date":"2017-09-07T03:06:49","date_gmt":"2017-09-07T03:06:49","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=21320"},"modified":"2017-09-07T03:06:49","modified_gmt":"2017-09-07T03:06:49","slug":"070917-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/070917-daily-analysis\/","title":{"rendered":"070917 Daily Analysis"},"content":{"rendered":"

7 September 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis<\/strong><\/p>\n

 <\/p>\n

CAD gone crazy, EUR anticipates ECB!<\/strong><\/span><\/p>\n

US dollar tumbled sharply against the Canadian counterpart on yesterday following a surprise move from the Bank of Canada (BoC) by raising their benchmark rates. As of writing, pair of USD\/CAD ticks up 0.08% to $1.2236, not far from two years trough of $1.2139. In their latest monetary policy meeting, BoC decided to raise interest rates by 25 basis points to 1% after a hike in July, citing upbeat economic growth as the main factor for their verdict. \u201cThe move by BoC has taken off the chances for a rate hike in October. Main market focus will shift towards December\u2019s meeting while optimistic economic conditions will be needed to justify such action,\u201d postulate analyst from Wells Fargo. In the other region, pair of EUR\/USD rose 0.05% to $1.1923 while current upside bias remained limited as market participants shift their focus towards the highly anticipated European Central Bank policy decision later in the day. The single common currency remained well bid amid increasing speculation that ECB may announce plans to taper their QE programs as EU zone economic performance regains its momentum.<\/p>\n

 <\/p>\n

Otherwise, crude oil price eased by 0.06% to $49.13 with limited downside as American Petroleum Institute reported a lesser-than-expected crude oil build of 2.79 million barrels. Similarly, gold price recorded a loss of 0.05% to $1,333.28 following President Donald Trump\u2019s plan to pass an extension of US debt limit and raise the debt ceiling.<\/p>\n

 <\/p>\n

Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Event<\/strong><\/p>\n

20:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB Press Conference<\/p>\n

00:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Member Mester Speaks<\/p>\n

 <\/p>\n

\u00a0<\/u><\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
09:30<\/td>\nAUD \u2013 Retail Sales (MoM) (Jul)<\/td>\n0.3%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German Industrial Production (MoM) (Jul)<\/td>\n-1.1%<\/td>\n0.6%<\/td>\n–<\/td>\n<\/tr>\n
15:30<\/td>\nGBP \u2013 Halifax House Price Index (MoM) (Aug)<\/td>\n0.4%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 Deposit Facility Rate<\/td>\n-0.40%<\/td>\n-0.40%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 ECB Interest Rate Decision (Sep)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n236K<\/td>\n241K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 Ivey PMI (Aug)<\/td>\n60.0<\/td>\n61.3<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-5.392M<\/td>\n4.022M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

GBPUSD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following a retracement from the resistance level of 1.3075. MACD histogram which shows diminishing upward momentum suggests GBPUSD to be traded lower in short-term as technical correction. Next target at 1.3020.<\/p>\n

 <\/p>\n

Resistance level: 1.3075, 1.3160<\/p>\n

Support level: 1.3020, 1.2960<\/p>\n

 <\/p>\n

 <\/p>\n

EURUSD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD remains traded in an uptrend following prior rebound near the support level of 1.1915. MACD indicator which shows substantial upward signal suggests further upside bias for EURUSD to advance towards the next target at 1.1970.<\/p>\n

 <\/p>\n

Resistance level: 1.1970, 1.2070<\/p>\n

Support level: 1.1915, 1.1865<\/p>\n

 <\/p>\n

 <\/p>\n

USDCAD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior retracement from the resistance level of 1.2420. MACD histogram which illustrate negative divergence suggests USDCAD to extend its losses towards the next target at 1.2175.<\/p>\n

 <\/p>\n

Resistance level: 1.2420, 1.2655<\/p>\n

Support level: 1.2175, 1.1940<\/p>\n

 <\/p>\n

 <\/p>\n

USDJPY<\/u><\/strong><\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remains traded within a downward channel while recently retraced from the 20-MA line (red). Both lines which has formed a death cross formation suggests further downside bias to extend its losses after closing below the support level of 109.00.<\/p>\n

 <\/p>\n

Resistance level: 109.70, 110.65<\/p>\n

Support level: 109.00, 108.25<\/p>\n

 <\/p>\n

 <\/p>\n

CrudeOIL<\/u><\/strong><\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price were traded lower following a retrace from the resistance level at 49.35. MACD histogram which shows substantial downward signal suggests its price to extend further down after successfully closing below the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 49.35, 49.95<\/p>\n

Support level: 48.55, 48.00<\/p>\n

 <\/p>\n

 <\/p>\n

GOLD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was offered lower following a retracement from the resistance level of 1340.00. Recent closure below the 20-MA line (red) suggests further downside bias for gold price to advance towards the support level of 1330.00.<\/p>\n

 <\/p>\n

Resistance level: 1340.00, 1348.00<\/p>\n

Support level: 1330.00, 1321.00<\/p>\n","protected":false},"excerpt":{"rendered":"

7 September 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   CAD gone crazy, EUR anticipates ECB! US dollar tumbled sharply against the Canadian counterpart on yesterday following a surprise move from the Bank of Canada (BoC) by raising their benchmark rates. As of writing, pair of USD\/CAD ticks up 0.08% to $1.2236, not far from two years trough of […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/21320"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=21320"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/21320\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=21320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=21320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=21320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}